Dissertations / Theses on the topic 'Investments, Foreign – Ghana'

This thesis explored the critical role of government policies in attracting and retaining Foreign Direct Investment (FDI) in Ghana. The study was motivated by the dearth of research on how government policies influence the attraction and retention of FDI in Sub-Saharan African (SSA) countries. The paucity of studies on this issue is surprising in light of the active role that government policies and agencies have assumed in the last three decades in attracting inward FDI to Africa. This study attempted to fill this gap by using Ghana as a case study to analyse the extent to which government policies have been successful in attracting and retaining FDI in the country. In setting the conceptual and theoretical background of the study, the international business literature on FDI and corporate strategies that guides the activities and decision making of multinational firms in investing abroad was explored and conceptualised, '.;fhe study adopted a mixed method of enquiry. This involvedthe use of questionnaire surveys and semi-structured interviews to collect data from foreign investors in Ghana and government policymakers. Both the quantitative and qualitative data collected was analysed using a variety of methods, including an independent sample t-test, ANOVA, factor analysis, correlations, multiple regression and content analysis. This approach yielded some novel and interesting findings, and provided deeper insights into the role of government in the attraction and retention of FDI. The principal finding of the study was that government policies such as tax, privatization, investment promotion policy, free zone, entry and operations, and the standard of treatment of foreign firms play a critical role in attracting and retaining FDI. In essence, SSA governments have attempted to create an attractive and conducive environment for FDI, but the study revealed that the existence of favourable FDI policies alone is not sufficient in attracting and retaining substantial FDI. It is argued that the policies have to be supported by efficient business facilitation factors, as well as generous incentives. All of these, it is further argued, are necessary for the country to meet the minimum requirement of being competitive enough to attract and retain substantial FDI. The study also revealed that in SSA countries in particular, political and social stability is seen as absolutely crucial to the country's ability to attract and retain FDI. The study also underscored the importance of a marketing strategy, such as the direct targeting of particular investors with specialist expertise to invest in sectors in which Ghana possesses competitive advantage. It is argued that this is the best way for Ghana to attract the right type and amount of FDI into the country. The study thus postulates that such a strategy is more likely to fully reward Ghana with a substantial inflow of FDI that is commensurate with the country's potential. Essentially, a successful inward FDI approach requires the creation of a favourable investment environment that is boosted by direct targeting of investors, and luring them into the important sectors of the SSA nation's economy. The theoretical, methodological and policy contributions and implications of the study are discussed, along with the limitations and areas for future research.

The global financial and food crisis of 2007 and 2008 was followed by a surge in foreign interest and investment in African agriculture. Renewed global interest in African agriculture was also accompanied by an increase in international efforts to influence domestic agricultural policies, including in Ghana. In the context of an increasingly globalised food regime and integrated commodity markets, this thesis answers the question: to what extent do international actors impact domestic agricultural policies in Ghana? Policy 'impact' is understood as the marked influence that international actors have on policy goals and the resources, institutions, and knowledge used for achieving them. This thesis compares case studies of cocoa and rice policy over two different periods in Ghana's recent history (1983-1995 and 2003-2012) to understand how international actors use their power and resources to impact agricultural policies. The comparison of cocoa and rice policy is used to address two gaps in existing literature by examining how the impact of international actors relates to: 1) the political economy for a specific crop; and 2) the interaction between actors at international, national and local levels. Findings from the comparative analysis are then used to test existing theories for how international actors influence government policy in Africa more generally. In particular, findings provide new insights into how the impact of international actors on African agricultural policies is strongly associated with the effect of policy decisions on the longer-term political economy for a particular crop.

Crude oil can attract a lot of investments and development into a country but when not managed well can as well cause a lot of destruction and conflict. Like fire, crude oil is a good servant but can be a bad master too depending on how it is handled. Using Dunning‟s eclectic paradigm, a positive relationship between foreign direct investment and locational attraction was established. Of the two components within the locational attraction, natural resource attracts more foreign direct investment than market size in the case of Africa. It was established through our case study of Angola that oil attracts foreign direct investment because oil is a location attraction which attracts foreign firms. These investments on the other hand contribute to the productive capacity of the receiving country thus stimulating economic development. However, the availability of natural resources (oil) and its ability to attract foreign investment does not guarantee economic development. The establishment of appropriate institutions, mechanisms and policies would ensure efficient use of oil revenue for sustained economic growth. We identified vital policy options (the Fund mechanism and spending rule) available to Ghana , with inference from Norway, which could help evade the „Dutch Disease‟. Oil production could thus attract more foreign direct investment and contribute to the economic development of Ghana only on condition that appropriate oil revenue management policies are implemented.

This Bachelor thesis focuses on examining the Ghanaian state's policies regarding inward Foreign Direct Investments and furthermore the policy implementation to attract and receive FDI, the question asked is What policy choices have been implemented by Ghana to attract Chinese FDI? This thesis employs a single case study design with a qualitative approach as it seeks to draw upon Liberal IPE and RAM to understand the policy choices in attracting FDI, more specifically how Ghana has shaped their policies. When conducting the analysis, the thesis assembles documents, both primary and secondary data to be able to answer the research question. The documents used for gathering data is from Ghana's government as well as governmental organisations, governmental policies and official statistics to peer reviewed articles and organisational data. This enables the thesis to find empirical evidence to support the aims of the conducted research. Moreover, secondary data will be used to situate, contextualize and present the findings. The main problem seen is how the policy behaviour of governments is conducted to receive FDI in this trudge. The solution to the problem is presented to be the policy decision taken to open markets and welcoming Foreign Direct Investment, through reforms aimed at both domestic companies and market as well as to the global markets and actors.

The aim of this study is to empirically investigate the relative significance of the determinants of UK foreign direct investment (FDI) in Ghana. According to the United Nations Conference on Trade and Development (UNCTAD)'s World Investment Report in 2013, developing countries outperformed developed countries as recipients of FDI, and it is crucial that Ghana competes to increase its share in this positive trend. It is believed that Africa needs to target some countries and even some companies rather than adopt generic strategies if their promotional activities to attract FDI are to be effective. In Ghana's case, one of the priorities to increase its share of FDI and subsequently that of Africa could be to reverse the declining trend of inward FDI from the UK, which was Ghana's leading source of FDI until recently. By applying the OLI paradigm in the context of UK FDI to Ghana, the study provides a template of how FDI from a particular country may be attracted by analysing the determining factors from the perspective of companies already experienced in the market. This study adopted explanatory mixed research method in accordance with the pragmatic research philosophy. This enabled all the 286 contactable UK companies in Ghana to be reached through the survey method. Then based on the initial analysis of 101 usable responses in SPSS, representing 35 per cent response rate, eight sequential interviews were conducted through convenience sampling. The interviews were deductively analysed by manually categorising the responses according to the questions asked, in order to build explanations of the survey findings. Consistent with the OLI paradigm, the research revealed that all the surveyed companies possess ownership advantages such as strong brands, or the potential to develop strong brands, unique products, management and marketing know-how and transferrable experience from similar markets, all of which are crucial for successful investment in Ghana. However, for Ghana to retain UK companies in the country and attract more, favourable locational factors identified in the study need to be provided and nurtured. These include reliable infrastructure, enhanced market size, political stability and continuity, opportunities for agglomeration and a functioning regulatory framework which augment different degrees of internalisation, as the majority of the companies have preference for the wholly owned subsidiary entry mode. The study also found the effect of current tax incentives, formal institutions and informal ties in attracting and retaining FDI was insignificant. This research has made a unique contribution to the understanding of the determinants of FDI in a number of ways. In practice, the sample is unique as it excluded companies operating in traditional natural resources and therefore outside the jurisdiction of the Ghana Investment Promotion Centre (GIPC) according to the GIPC Act 478 of 1994. This makes the findings specific and relevant to GIPC and investment promotion agencies in Africa, regarding crucial factors to be highlighted and to abolish practices which do not add value to the country as the preferred investment destination for UK companies. Academically, this study fills a number of gaps in the literature. First, it was unique in examining the variables to be considered in retaining as well as attracting FDI, as the majority of studies on determinants of FDI focus more on attraction and less on retention of existing companies, despite the crucial role existing companies play in agglomeration, urbanisation, brand development and other benefits of FDI. The framework developed from this study may also be adopted or modified for future studies. Methodologically, another contribution is the application of explanatory mixed research methods to empirically study the determinants of FDI in Ghana.

The disappointing economic performance of Nigerian, Ghanaian, and the Togolese economies, coupled with the globalization of activities in the world economy, have forced them to look outward for development strategies. Many studies have been attempted to estimate the impact of natural resources on foreign direct investment (FDI) inflows around the world, but very few have been focused on Ghana, Nigeria and Togo. This study departed from previous studies and employed a gravity-type framework to explicitly explore the question of whether natural resource endowments was a more relevant factor that explained the FDI’s attraction to the countries under study. The study also included other FDI determinants. Accordingly, this study served to investigate whether natural resources attracted FDI inflows in Ghana, Nigeria, and Togo. Using time series data from 1980–2015, the study was conducted to answer two research questions. Two models were established utilizing the pooled ordinary least square method to estimate the coefficients of the models. Preliminary results were obtained using both the random effect and fixed effect models. The results of the study yielded by both techniques registered natural resources to be significant as a driven factor for FDI inflows to the countries under review. Other factors such as GDP per capita, trade openness, political stability, and economic liberalization were also found to be significant in FDI determination.

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This study examined the foreign direct investment in Africa, focusing on the production of an evaluating tool for business opportunities in African markets, specifically in Ghana, a country situated in the western portion of the Black Continent. Aiming to establish an objective reading instrument for the rational selection of Ghana as a prospecting field, the research showed, generally, variables apt to set the country as a fecund market, such as the cultural context; natural and human resources, infrastructure and market size; economic performance and governance, taxation and incentives, operating costs, regulatory frameworks for investment, among others, comprised in four chapters, verified through electronic and bibliographic sources. The current situation seems to lead us to a favourable forecast to capital investments in the region, since Ghana has shaped its legal system so as to make it promising for investors, facilitating access to international capital into local markets by offering general benefits and incentives which resulted in improvement of the business environment
O presente trabalho analisou o investimento estrangeiro direto na África, concentrando-se na produção de uma ferramenta de avaliação de oportunidades de negócios nos mercados africanos, mais especificamente em Gana, país situado na porção ocidental do Continente Negro. Visando estabelecer um instrumento de leitura objetivo para a seleção racional de Gana como campo de prospecção, a pesquisa apontou, genericamente, variáveis aptas a estabelecer o país como mercado fecundo, a exemplo do contexto cultural; recursos naturais e humanos; infraestrutura e dimensão de mercado; desempenho econômico e governança; tributação e incentivos; custos operacionais; quadros regulatórios de investimentos, entre outros, acostados em quatro capítulos, verificados através de fontes bibliográficas e eletrônicas. O quadro atual parece nos levar a previsões favoráveis às aplicações de capital na região, uma vez que Gana moldou seu ordenamento jurídico de forma a torná-lo auspicioso para investidores, facilitando o acesso de capital internacional aos mercados locais, através de benefícios e incentivos gerais, o que culminou na melhoria do ambiente empresarial.

Includes bibliographical references.
Many of the countries in sub-Saharan Africa are classified within a sub-category of developing countries referred to as frontier economies. These economies are producing growth rates that often surpass both the more advanced developing countries such as China, as well as the growth rates of the developed world. This study evaluates the investing landscape in Africa, with particular focus on the countries of Ghana and Rwanda. An in-depth analysis of each country’s taxation system and the areas within those systems that may affect the foreign direct investment decision is undertaken. The study then goes on to compare each of the respective country’s taxation laws and policies, specifically in regard to taxation incentives, to the laws and policies currently applicable in South Africa. This is performed with the aim of investigating possible improvements that may assist in enlarging the selected country’s taxation revenue. Further, it is also the intent of this study that the solutions proffered for the improvement of the policies and regulations currently in place will assist in increasing the transparency with which the systems operate. When taken in unison these suggested amendments would sanguinely work towards enhancing the overall experience of investors – both domestic and foreign.

In South Africa, oil and gas companies are subject to the ordinary tax rules within the Income Tax Act 58 of 1962 ("the Act"), but enjoy certain tax concessions within the Tenth Schedule to the Act. The main reason for introducing the Tenth Schedule was to create certainty and transparency for oil and gas exploration and production with the aim to secure foreign investment (National Treasury, 2006:15). Considering the growth potential of South Africa's oil and gas industry and the fact that the Tenth Schedule was introduced to create certainty and transparency in the hopes of securing foreign investment, this dissertation evaluates whether the Tenth Schedule achieves its aim of providing certainty and transparency in order to attract and retain foreign investment in the oil and gas industry. Furthermore, this dissertation identifies issues and uncertainties found within the Tenth Schedule which could hinder such foreign investment. Finally, as countries are in competition with one another to attract foreign investment, this dissertation evaluates how the incentives provided by the Tenth Schedule compare to the incentives provided by Ghana's oil and gas tax regime.

Foreign Direct Investment (FDI) has a major role in enhancing economic growth and development. In Ghana, the prospects of attracting new FDIs is high because of its natural resources, low cost of production, and an economically active population age bracket. While scholars emphasized the need to attract FDI to facilitate the rapid economic development of Ghana, little attention is paid to the effect on specific sectors of the Ghanaian economy. The study examines the factors that attract the inflow of FDIs and its effect on economic growth. Using secondary data and quantitative method of analysis, in addressing the third and fourth objective of the study that examine a cause and effect relationship between the flow of FDI into specific sectors of the economy (Industry and Service Sector). We adapt the empirical model of Girma (2015). In our model, a multiple linear estimation technique is specified to examine the factors that causes the inflow of FDI into an economy. Based on our findings, the hypothesis that Ghana could potentially attract foreign direct investment through the building of human capacity and fostering economic growth and not entirely relying on natural resources as a driver of FDI inflow is partly true. We conjecture that FDI inflows into some sectors of the economy has harmed the economy both environmentally and socio-culturally. From the study, it was identified that FDI has contributed to job creation, GDP growth, and increase in the employment rate which has significantly improved the country’s economy. The thesis recommends the channeling of FDIs into comparative sectors of the economy and also should be guided at getting a chunk of FDIs into export oriented sector to help stabilize the economy.

The flow of foreign direct investment (FDI) is seen as an important source for achieving greater and faster economic growth, particularly in the emerging market economies and other developing countries. This study will examine the factors that induce foreign investors to operate in Ghana. This will take into consideration the significant influence between the dependent variable (FDI) and the observed explanatory variables ((GDPgrowth, inflation, exchange rate, trade openness and natural resources from 1975 – 2016) and (government stability and corruption from 1984 – 2016)). The study uses ordinary least square (OLS) and ARDL regression model to examine the influence between FDI and the proposed explanatory variables that are anticipated to determine FDI inflows into Ghana. The unit root test shows that only GDP and inflation were stationary at the ordinary level while other variables were stationary when we combined the variables as one. In order to solve the problem of spuriousness and the consequent of the determinant of FDI, FDI was used as a dependent variable over other variables considered. The result of the OLS regression model show that GDP growth, exchange rate, natural resources and government stability have positive influence on FDI while inflation, trade openness and corruption have negative influence on FDI but only exchange rate and natural resources said to be statistically significant. Result of ARDL was divided into two part. Variables that ranges from 1975 – 2016 were used as an explanatory variable for the first part while all the variables including government stability and corruption were used as second part. The result for ARDL regression model shows that all the variables from 1975 – 2016 are statistically significant while the second part shows that only inflation, exchange rate, trade openness and government stability are statistically significant. The uniqueness of this research after using ARDL regression model and OLS regression model is that the two models show that there is statistical significant influence between FDI and the independent variables (GDP, natural resources, trade openness, inflation, exchange rate, government stability and corruption).